USDRUB - 7 years ASCENDING TRIANGLE
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Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
Today east Europe dramatic situation (Russia/Ukraine) has caused this huge breakout from a massive 7 years long Ascending Triangle (weekly chart shown). Breakout has also taken out the previous high at 85.980.
The pattern is great and prices are at the all-time high so there is nothing between us and the target. The only point here is that this is not a completely "genuine" breakout since it is due to today macro factors. Keep this in mind if you are going to evaluate this opportunity.
🔎🔎🔎 ALWAYS REMEBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
════════════════════════════════
Since 2014, my markets approach is to spot trading
opportunities based solely on the development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
═════════════════════════════════
Hello Traders ✌
Today east Europe dramatic situation (Russia/Ukraine) has caused this huge breakout from a massive 7 years long Ascending Triangle (weekly chart shown). Breakout has also taken out the previous high at 85.980.
The pattern is great and prices are at the all-time high so there is nothing between us and the target. The only point here is that this is not a completely "genuine" breakout since it is due to today macro factors. Keep this in mind if you are going to evaluate this opportunity.
- Pattern Class: 🌕🌕🌕🌕🌑
- Target area: 112.000
- Breakout area above: 86.000
🔎🔎🔎 ALWAYS REMEBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
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